Local building contractor specialising in design & build method and incorporates a digital management application which improves business operation efficiency. VLB is valued by pegging its FY23f core EPS of 3.6 sen to PE of 12.0x, leading to a FV of RM0.43.

Teladan Setia Group Bhd (TELADAN) marked its first milestone from the launching of its first project comprising of 294 units of residential houses and 44 units of shop offices in Taman Seri Selendang, Batu Berendam in 1997. The group has evolved into a reputable property developer with presence across Melaka and Klang Valley.

The FBM KLCI has ended marginally below 1,500 dragged by the weakness on the banking sector as BNM maintained the OPR at 2.75%. However, with the positive sentiment from Wall Street, we believe the buying interest may spillover to the broader market, providing an upside towards the lower liners, especially the technology sector. Global stock markets could see further recovery on the back of decent US GDP data coupled with the recovery theme from China, which may boost the recovery further going forward.

Despite the weakness as of late, we expect the key index to re-test the 1,500 level, taking cue from the positive sentiment on Wall Street overnight. The lower liners are staying firm amid strong buying interest, but we caution that the overbought position in most of the stocks across Bursa Malaysia may attract quick profit taking over the foreseeable future. Globally, the stronger-than-expected economic data in the US may continue to lend support for further recovery on Wall Street

The FBM KLCI failed to build onto the positive momentum from the pre-CNY moves as the key index lost ground on quick profit taking activities. Still, we are banking on the recovery theme from China which will boost the FBM KLCI above the 1,500 level, while the lower liners may continue to capitalise on the improved trading environment and enjoy further rotational play. Globally, the focus will shift to the preliminary reading of the US 4Q22 GDP data tonight.

Established since 1989 that specialised in provision of technical and engineering support services in the oil and gas industry in Malaysia.

The FBM KLCI took another step higher to close marginally above the 1,500 level. This week, we reckon that the trading activities will be muted amid the holiday-shortened trading week as most investors could still be enjoying the break. Nevertheless, bouts of upsides are to be expected with traders taking further positions in riskier assets following the Bank Negara’s unexpected move to maintain the OPR.

Moving forward, we are cautiously optimistic on the office space outlook over the near term as we expect the market sentiment to remain soft amid rising inflationary pressures on the global economy. Besides, we expect an increase in property operating expenses due to electricity tariff hike effective 1st January 2023 to 30th June 2023.